About 40 percent of people who applied for individual rehabilitation in Seoul and Gangwon Province were doctors, a report concluded.

According to data by the Seoul High Court, 449 doctors including dentists and oriental medical doctors filed for personal bankruptcy under the Debtor Rehabilitation and Bankruptcy Act between 2009 and 2013.

The number of hospitals that closed down also jumped by 17.6 percent, from 2,857 to 3,359 in the same period, largely due to fierce market competition and less income.